Robinhood Begins European Expansion, Acquiring Regulated UK-Based Crypto Firm Ziglu

Nasdaq-listed trading level Robinhood is acquiring Ziglu, a London-based physics wealth instauration and crypto plus firm. The acquisition is portion of Robinhood’s planetary enlargement plan. Robinhood “sees a large accidental successful serving customers crossed the globe.”

Robinhood Acquiring Regulated Crypto Firm Ziglu

Popular U.S.-based trading level Robinhood announced Tuesday that it has signed an statement to get a regulated cryptocurrency steadfast Ziglu.

Citing its ngo to “democratize concern for all,” Robinhood emphasized, “That’s wherefore earlier this year, we announced that we’ve acceptable assertive goals to commencement opening our crypto level up to customers internationally.” The Nasdaq-listed trading level added:

As we look to grow internationally, we’re excited to denote that we’ve signed a woody to get Ziglu Limited, a UK-based physics wealth instauration and cryptoasset firm.

The woody is “subject to regulatory approvals and different customary closing conditions,” Robinhood noted.

Founded successful 2014, Ziglu allows U.K.-based retail investors to bargain and merchantability 11 cryptocurrencies. Users tin besides gain output via Ziglu’s “Boost” products, wage utilizing a debit card, arsenic good arsenic transportation and walk wealth worldwide without fees, the announcement details. The U.K crypto steadfast is regulated by the Financial Conduct Authority (FCA). The radical was valued astatine £85 cardinal past November erstwhile it raised £7 million.

Ziglu CEO Mark Hipperson stated that the 2 companies “share a communal acceptable of goals,” elaborating:

As portion of Robinhood, we’ll supercharge Robinhood’s enlargement crossed Europe and bring amended entree to crypto and its benefits to millions much customers.

The announcement adds that thing volition alteration successful the adjacent word for existent Ziglu customers. However, successful the longer term, Robinhood volition afloat integrate Ziglu successful bid to “bring the Robinhood marque overseas” arsenic it works to “expand operations beyond the U.K. into Europe.”

Robinhood announced its program to motorboat internationally successful January, stating that it “believes successful the immense imaginable of the crypto system and sees a large accidental successful serving customers crossed the globe.”

Steve Quirk, Robinhood’s main brokerage officer, explained successful February that his company’s planetary enlargement volition beryllium “crypto first.” He believes that from the regulatory standpoint, the way for Robinhood to “go planetary and person the astir traction is astir apt done crypto, and past possibly travel with different components of the offering.”

Robinhood precocious rolled out its cryptocurrency wallets to much than 2 cardinal customers. The level besides added enactment for 4 further cryptocurrencies this month, including meme crypto shiba inu. SHIB is present supported connected the level alongside bitcoin (BTC), bitcoin currency (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classical (ETC), litecoin (LTC), compound (COMP), polygon (MATIC), and solana (SOL).

What bash you deliberation astir Robinhood acquiring Ziglu and its planetary enlargement plan? Let america cognize successful the comments conception below.

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